Press release
Managed Print Services Market 2018 Historical Analysis and Key Players: Lexmark International Corporation, ARC Document Solutions, Xerox Corporation, HP Development Company, Ricoh Company, Toshiba Corporation
Companies such as Lexmark International Corporation (U.S.), ARC Document Solutions, Inc. (U.S.), Xerox Corporation (U.S.), HP Development Company, L.P. (U.S.), Ricoh Company, Ltd. (Japan), Toshiba Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea) are the leading providers of managed print services solution in the global market. The increasing adoption of big data solutions is one of the main driving factors of the managed print services market growth. With this solutions, the companies are gaining proper control of the printing, cost-effective and boost productivity.
The increasing demand for cloud computing and software as a service are boosting the managed print services market growth to the large extent. The cloud-based print services are gaining momentum among large companies. The cloud services along with the latest multi-functional printers for the integration of paper and digital workflows are widely used among organizations. This helps to reduce the printing office documents cost of up to 40%, improve productivity, and security.
On 17 January 2018, Xerox went into partnership with Midwich to provide managed print services solution in the small and medium enterprise. Midwich is offering cloud-based, managed print services to their customers
On January 30, 2018, Xerox introduced a channel program for the information technology service providers. The company is offering and extending their service of print and workflow solutions.
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Market Segmentation
The global managed print services market is segmented into the component, deployment, organization size, end users, and region. The component is sub-segmented into hardware, software, services, and others. The hardware is further segmented into copier, fax, printer, and others. The deployment segment is sub-segmented into on-cloud and on-premises. The organization size segment is sub-segmented into small & medium enterprises, and large enterprises. The end-users segment is sub-segmented into BFSI, IT and telecommunications, government, healthcare, and others. The global market is spanned across North America, Europe, Asia Pacific, and rest of the world.
The global managed print services market is expected to reach USD ~51 billion by the year 2023 at a CAGR of ~9%.
Competitive Analysis
The global managed print services market appears to be extremely competitive. In order to target, segment and position their sensors into the global market and to drive the market growth, the companies have to come up with the advanced technology solution to maintain themselves into the competitive landscape. Market leaders are investing in research and development for innovating their products continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, and cost-effective product portfolio.
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